Edison Investment Research - Telix Pharmaceuticals (TLX) Telix Pharmaceuticals - Novartis/Endocyte deal illustrates upside potential

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Edison Investment Research

Dr Dennis Hulme

Telix Pharmaceuticals - Novartis/Endocyte deal illustrates upside potential

Novartisâ€™s US$2.1bn acquisition of Endocyte highlights the considerable potential upside that exists for Telix, if it can successfully develop its pipeline of molecularly targeted radiation (MTR) therapeutic and imaging products. It continues to make rapid progress across the portfolio, with the Atlab acquisition completed, Cardinal Health appointed as a sales and distribution agent for illumet (TLX591-CDx) in the US, a Phase I/II study of TLX101 in brain cancer initiated and the confirmatory Phase III study of TLX-250-CDx for imaging kidney tumours about to commence. Our valuation is unchanged at A$303m; value per share increases to A$1.43.

31/10/2018 9 EN

Underlying

Telix Pharmaceuticals

Telix Pharmaceuticals Ltd. Telix Pharmaceuticals Limited is an Australia-based biopharmaceutical company. The Company is focused on development and commercialization of diagnostic and therapeutic products based on radiopharmaceuticals, or molecularly-targeted radiation (MTR). MTR is a novel therapeutic approach that selectively delivers radiation to cells that exhibit certain molecular profiles or targets that may be indicative of cancer. The Company's MTR products such as TLX-250 diagnosis and treatment of renal (kidney), TLX-591 treatment of metastatic castrate-resistant prostate cancer, and TLX-101 treatment of glioblastoma (brain cancer).

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AU000000TLX2 Australian Securities Exchange Australia

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Dr Dennis Hulme

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Telix Pharmaceuticals - Novartis/Endocyte deal illustrates upside potential

Q1 2024 Revenue and Business Update

TLX101-CDx (Pixclara™) Granted FDA Fast Track Designation

World First Use of Lightpoint's SENSEI® Drop-In Gamma Probe in Bladder Cancer Surgery Performed in Spain

Headlam Group - Strategy for growth in tougher market

Lithium Power International - Termination of coverage

paragon - Termination of coverage

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